TMFMmbop (37.20)

Copper Prices Are on the Rise Again

6

How do I know? I just got this alert from the City of Alexandria (VA):

Recently there has been a spate of fairly brazen thefts of copper gutters and downspouts from homes in old town, some in broad daylight, by persons who appear to be working as contractors. We know of such thefts from houses on the 400 block of South Union and at least one such theft in the 500 block of Duke St. If you have copper gutter/downspouts, or know that your neighbor(s) do, please be aware of the problem and let your neighbors know. If the neighbors see anything suspicious (for example) they are unaware you are having construction work and see a 'contractor' at your house, they should call the police forthwith.

Of course, there's legal way to profit from this trend. Buy Peru...forthwith.

Copper will experience substantial volatility in the near-term as we await clarity on the true demand component beneath China's latest restocking surge, but over the medium term I expect an impressive recovery for copper, and Peruvian copper is the cheapest in the world to mine (principally because of serious by-product credits).